How many people have been panic selling? I didn't. - page 9.

South Park

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Quote from: countryfree on March 14, 2020, 02:03:31 PM

Good to know, nobody from this board is panicking.
I don't think anyone has sold his BTC to buy toilet paper.
Well, there may be an opportunity is starting a business selling that stuff accepting BTC payments...

Some of the most experienced members of this forum are not going to be scared by the drop that we saw since they have seen bitcoin behaving in that way many times before but for the people that have been around for only one year you can be sure they got scared and many of them sold their coins thinking bitcoin will never recover and most likely they will not be invested in bitcoin when the next bull market comes, and then they will come to the forum to complain about it when the only ones responsible for that mistake are themselves.

MCobian

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In my opinion the price of bitcoin dropped dramatically not only because some investors became panic selling. However, the spread of corona virus
which spread rapidly throughout the world, even some countries did lock down action to make some people end up selling all investments with
high risk, one of them is bitcoin. So don't be surprised if the price of bitcoin goes down, if the corona virus problem is not quickly taken care of.
I am afraid that the bitcoin halving event that will soon occur, could fail to make the price of cryptocurrency rise to the peak price.

countryfree

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Bitmex is partially to blame, or the hackers who attacked this exchange:

https://cointelegraph.com/news/bitmex-explains-why-bitcoin-nearly-hit-0-last-week-pays-out-200k

bitcoinst

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Most likely, the "individuals" you named did not just sell. Probably they wanted to create a specific situation in which you can provoke a total mass of people to sell their BTC.
This practice is repeated over and over again, with a frequency of 3-4 months. I am sure before the blinding movement on the Bitmex exchange they eliminate the buzzes of more than 800kk.

Blackdeath

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Panic selling isn't the best solution for a time like this because its quite normal for bitcoin and other cryptocurrencies to have ups and downs due to its volatility of the market, that is why the best solution for this bear market is have patience again till bitcoin and cryptocurrency increase their prices again.

ethereumhunter

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Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

Maybe your friends believe that bitcoin can increase high so they still hold bitcoin even the price is down like today. But I think many people are panic selling their bitcoin since a few days ago because they don't prepare to see the down of the bitcoin price. We don't know how many people are selling their bitcoin instantly because we don't have valid data of panic people. Or maybe they have another strategy to sell their bitcoin so they can buy back bitcoin at a low price.

kisfoxs

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The market conditions are very bad and the panic is huge. All already know the cause of the crypto-asset price drop. I think you made a big decision that you don't sell the bitcoins you have. Now Bitcoin slowly charges back up. And to restore the pump higher again, of course, requires a lengthy process. But I salute you to dare to hold back Bitcoin and not follow the flow of panic.

thesmallgod

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Aside from the whales, I am sure anyone who is not infected with the disease and have experienced such a diminish in value of his/her crypto wallet won't bothers to sell. I have even stopped checking my portfolio even since I have discovered I lost almost half of my total asset due to the sudden drop in the crypto. I hodl a huge amount of EOS that has dropped from $3.8 to less than $2. I just hope soon things pick up again. The best decision to take now is to leave the wallet the way it is. No more trading for now

alexsandria

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Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

That's good that you guys will not go to the flow of many people that has been starting to sell their bitcoins in a very small amount of money. Just keep on holding so that you will not be able to have an problem and you will not experience a huge loss for that so just keep on holding until the price or the value of the bitcoin becomes normal again and backs to its neutral situation in order to don't experience bad losses. I am pretty sure that it will bounce back again so let us wait.

Viscore

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It's hard to determine the number of people who panic in selling their bitcoin, what we can only see is the volume and amount of bitcoin being dropped, it could be a few people or many but it does not matter anyway, you are a long term holder and you don't sold a single bitcoin and that is good to know.

Tell your friends that they should not panic, try to review the past situations where bitcoin dump heavily and how it has recovered from big dump.
That way, they'll feel calm because bitcoin recovers every time its dump hard.

el kaka22

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I honestly didn't panic sell and on contrary I panic bought Cheesy

. I know that is not a thing and I don't know if that is the right word to use but I use "panic buying" as a thing where the price falls under so much that it is actually more valuable than the price suggests so you try to buy as much as you can while it is down. Buying bitcoin below $5k levels means that I will actually profit very well this summer, not many people realize that.

Unfortunately, many people who got panic sold their coins and they lost money, however the ones that bought around these levels will only have to wait until this summer when the corona thing goes by and halving happens and nothing to worry about anymore so the price will go up and we will be in better shape than sellers.

pragna

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Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

I think this fallen is not like new. We saw many falling picture before and now we know that world economy has drop down and crypto market also. So at present time we have to keep patience as we also know that market will recover when COVID-19 attack will finish. So don't be a panic seller at present time.

Best of luck.

verita1

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I also have not panicked and have not sold my BTCitcoin. I just remembered that last year the price of Bitcoin also fell sharply. But we did not have the current situation "The Covid19 Pandemic".
We just have to ask God to control the spread and that scientists find the vaccine in time for the future of humanity.
I feel more comfortable worrying only about the crypto market.
Finally, if I had to sell my Bitcoin to buy food and medicine, of course I would.

Farma

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Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

I think people who have been using crypto for a long time will not sell the bitcoins they currently have. some of my friends are also still holding their assets until now. our target is the same, which is to sell bitcoin at a high price after halving. I don't know what the problem is that made the price dump so deep, but I still believe that price increases will occur.

Smitty Werben Man Jensen

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of course there are very many panic selling, if a trader has monitored and placed a stop lose, then automatically it will be followed by other traders, especially if the support has been passed like yesterday, and at this time the price of bitcoin will still be towards $ 3800 support again, maybe people will panic again

amar87

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The latest developments have not led to any significant moves on Bitcoin prices. With stock markets opening, we will see another big drop and Bitcoin will reflect this drop at least 1:1

kaya11

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Quote from: countryfree on March 13, 2020, 12:51:13 PM

I've contacted a few friends who hold like me. They're all very concerned by the huge drop, but none has sold a single BTC.
We're all holders.
I know it's huge, but I believe the sharp fall in BTC's price has been caused by a very small number of individuals.
Waiting for data...

If that is true then they should be the whales, because only the whales that could do it, they are few but their holdings are not. I believe it is the pandemic, since goods now are quickly sold out, they need their cash to buy food. Here in our city it already started even theres no confirmed case. The people are panicking and buying lots of food and sanitizers, almost gone. Well for us hodlers this time is a golden opportunity, buy more btc.

coolcoinz

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I didn't sell, but I never do in these flash crashes. For me it's simply impossible to react to them as my coins are in cold storage. Getting them out and into an exchange would take hours, and I don't even follow the price every day, so if the crash happened I'd probably find out about it 6 hours later. Then I'd have to move all my coins to an exchange which would seem sketchy and risky, so I'd have to divide them into packs of a few BTC at a time. Of course selling would mean paying tax and revealing my holdings to the government. No thank you.

Sanugarid

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Quote from: Findingnemo on March 14, 2020, 12:13:30 PM

I am also not interested to sell my bitcoins at this time until if there is a real need to sell for medical expenses or something like that. But I am seeing many of them were interested to buy bitcoins now in my friends' circle but myself neither tried to sell or buy at this time. Building a strategy form myself to recover from the profit loss for the past few hours.

I also think there's no need to start panic selling just because the corona outbreak negatively affects the market value of bitcoin cause if we are going to look back, we can easily see how bitcoin was able to surpass lots of circumstances and struggles way back. Corona will end soon and the halving would take place which will more probably give positive outcomes upon bitcoin. If things get better for bitcoin, lots of panic sellers will surely regret. That is why it is very important that we analyze the situation before making a move.

conected

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Quote from: lienfaye on March 14, 2020, 05:37:51 PM

I didnt panic sell because its not a wise decision to do in times the market is in bearish trend. But unfortunately many investors did and it was reflecting on the market. I cant blame them for selling, they might be new in crypto and didnt know that this kind of scenario is normal and already happened before. I just want to stay positive and forget for a while the current happening in the market.

- Blaming newbie is unnecessary when this market has created too big a surprise and attacked them when they have no precaution, even for investors familiar with this scenario, they cannot maintain the necessary composure but at least with past experience, they can handle this situation more appropriately, instead of being drawn to the trend of the crowd as a newbie. Calculating so far, based on the value of bitcoin and so many other altcoins, the number of people who sell in panic is significant but perhaps from the experience ahead, the market and people are slowly regaining recovery, rather than falling too deep

Topic: How many people have been panic selling? I didn't. - page 9. (Read 2096 times)